Nov 21, 2012 4:00am PST
-fire coming out of israel really rocked the oil market yesterday. what do you anticipate for today? > > i anticipate the trend to continue. keep in mind, before we had this cease-fire, a month ago, there was a big downward trend in the oil price. so i just expect that momentum to continue. refinery margins are really high, there is a lot of supply. i expect oil to continue to lower in price. > > what about greece? will we be able to get any closure there with the bailout money? > > i think the only way we are going to get closure is when people are willing to forgive and write down their debt, because that is the only way it's going to work. right now they are 180% debt-to-gdp. they need to get it down to 120%. it's just not going to happen. they don't have the money to be able to do this. they are going to have to forgive debt and take a haircut. > > month after month, traders are watching better-than- expected news come in from the housing sector. can we call the housing crisis done? > > i think we can. i think we have fallen down a seven-year flight of steps in terms of housing.